City Dev. earned Rs 24.15 crore operating profit in Q4; NPL stood at 0.53%

ShareSansar, July 23:

Pokhara-based City Development Bank has earned an operating profit of Rs 24.15 crore in the fourth quarter (Q4) of the last fiscal year 2071/72.

As per the press release published on Shrawan 6, the development bank has collected Rs 5.67 arba in deposits and has extended a total of Rs 4.16 arba on loan and advances in Q4.The bank non-performing loan (NPL) stood at 0.53% in the Q4 of FY 2071/72.

With the head office in Pokhara, the bank has been providing services to its customer from 17 branches and the branches  are  located in Chipledhunga, Bagar, Amarsing, Hemja, Bhimad, Bhotewodar, Damauli, Nagdanda, Turture, Manang, Shishuwa, Baglung, Narayanghat, Lamachaur, Bandipur, Chamebazar and Kasmisera.

City development bank and Om finance have recently signed a Memorandum of Understanding (MOU) for the merger to form a National level development bank, which will be named Om Development Bank Limited said the CEO of the bank, Mr. Bishwo Mohan Adhikari.